US nut maker John B. Sanfilippo & Son has booked a rise in half-year profits despite a dip in sales as the company drove efficiency gains and benefited from lower commodity costs.
The company yesterday (27 January) posted first-half net income of US$13.6m, compared to $5.5m a year earlier.
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The increase in profits came despite a fall in net sales. Sanfilippo recorded half-year net sales of $306.9m, against $312.6m a year ago. Sales volume increased by 5.8%.
“Lower commodity costs for some of the key nuts that we purchase and improved manufacturing efficiencies led to one of our most profitable December quarters since we became a public company in 1991,” stated chairman and CEO Jeffrey Sanfilippo.
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